Dechert LLP Advises ISM Capital on Acquisition by NY-based Broadpoint Gleacher
October 27, 2009
Dechert News Release
International law firm Dechert LLP advised London-based ISM Capital ("ISM"), an investment banking boutique that focuses on, among other products, emerging market debt, on its agreed acquisition by US-based independent investment bank Broadpoint Gleacher Securities Group, Inc. (NASDAQ: BPSG).
The agreement to proceed with the above acquisition represents a key step forward in Broadpoint Gleacher's new international markets effort, as part of which it has established an affiliate to be named Broadpoint International which will focus on global opportunities. ISM will become a subsidiary of Broadpoint International.
The acquisition is subject to the approval of the UK Financial Services Authority ("FSA") and customary closing conditions. It is expected to close in the fourth quarter of this year.
The Dechert team advising ISM was led by corporate partner Doug Getter (London), assisted by corporate associate Javad Husain (London), financial services partner Jennifer Wood (London) and tax partners Mark Stapleton (London) and Michael Hirschfeld (New York).